We propose a simple theory describing the influence of nanoparticles on thermodynamics of binary polymer mixture. In particular, we consider the case in which nanoparticles preferentially segregate into one of the polymeric components. Depending on the particle radius R-p and the polymer degree of polymerization N, addition of nanoparticles can either promote or hinder mixing of the polymers. We calculate how the addition of nanoparticles shifts the spinodal of the polymer blend. These results help to improve understanding of recent simulations on the dynamics of polymer/particle mixtures.